Digital Disruption in Banking Sector: Impact, Jobs, and Skills

Data insights

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK ..............................................................................................................................................3
Meaning of digital disruption......................................................................................................3
Impact of digital disruption in banking sector............................................................................4
Available jobs and the skills required for the job.......................................................................5
Online research questionnaire ....................................................................................................6
Discussion guide for a interview.................................................................................................7
Efficiency of research techniques...............................................................................................7
Impact, awareness and perception of Digital disruption on career.............................................8
CONCLUSION ...............................................................................................................................9
REFRENCES.................................................................................................................................10
Books and Journals...................................................................................................................10

INTRODUCTION
Digital disruption occurs when there is change in digital technology or any business
model that affects the value proposition of existing goods and services. Today the world is
getting digital and there are so many innovations that has influenced the potential of many
industries. Digital disruption should not be confused with disruptive technology which means
using digital technology to innovate a product and compete in market. Digital disruption is
helping businesses to grow and capture market share (Chowdhury, Bhaduri and McKee, 2018) .
Due to influence of digital technology and so many changes the banking industry is also using
Digital disruption to carter more customers and influence them. They are innovating the
products, business models and also organisational culture. The banking sector are now exposed
to digital disruption from inside as well as outside. Banks are now using their profits towards
innovation and creating new values for customers. This report is about Lloyds Bank, UK which
is a limited public corporation that operates in Wales and England. In the report there is role
digital disruption in the bank and its effect on banking sector, types of job that are available in
banking sector and a questionnaire. Also, the perception of people in relation to digital
disruption and the discussion about various techniques that are carried for effective management.
TASK
Meaning of digital disruption
Digital disruption means the disruption that is taking place due to change in technology
and innovation in business models. The word disruption is used as there is change in current
market and due to new technology and updates in existing market the value and demand for older
goods and services is disrupted by new once. In new market for existing product is created. In
this dynamic world there is need for change as customers needs and wants are ever changing and
to be successful in business it is important to serve them with updated product and provide them
with best and updated services (Alhadad, 2018). Because of digital disruption the working of
industries has improved and they are able to make more profits. digital disruption is helping the
companies to satisfy their customers better. As this advancement in technology is leading to
growth of organisations it is also contributing to economic growth as people are spending more.
With use of digital disruption the consumers can be understood and served better. If existing
customers are served better also it will help to attract new customers and create market for them.